Skipton Business Finance is pleased to announce the details of a new client:
Skipton Business Finance News
This client required a CHOCS facility (see our extensive glossary of invoice factoring terms here) to assist with cash flow and ensure the business could take advantage of opportunities to expand its client base.
Today, we take a look at the successful Enterprise Finance Guarantee (EFG) scheme in which Skipton Business Finance is an approved lender. Since its inception in November 2008, we have funded dozens of SMEs with EFG loans in tandem with our specialist Invoice Finance facilities such as Invoice Factoring or Invoice Discounting.
Traditionally Confidential Invoice Discounting has only been available to the larger businesses and most mainstream and indeed many independent invoice finance providers have high entry requirements to obtain this lucrative type of funding.
The smaller companies are usually steered towards Invoice Factoring, which includes full credit management which many small businesses have no need for.